Ritz-Carlton Yacht Collection generated $109.9 million in revenue in the second quarter of 2026, up from $76.1 million a year earlier, as the luxury cruise brand continued expanding its fleet and commanding higher pricing.
Passengers paid an average of $1,993 per day during the quarter, a 7% year-over-year increase. At the same time, load factor fell from 57% to 51%, reflecting the additional capacity created after Luminara, the company’s third yacht, entered service in July 2025.
Repeat business is becoming an increasingly important part of the model. Returning guests represented 22% of passengers in Q2, while the absolute number of repeat travelers increased 64% from a year earlier.
The company also narrowed its loss before interest and taxes to $4.9 million from $14 million in the second quarter of 2025. Management said booking momentum and pricing remained resilient as it works to turn commercial growth into stronger financial performance.
The results reinforce the momentum behind the ultra-luxury cruise segment, where hotel brands are increasingly translating their land-based positioning into small-ship products with premium pricing and highly curated itineraries.
Ritz-Carlton Yacht Collection received a $167 million equity injection in May and is scheduled to repay $171 million in deferred debt between 2028 and 2033. The line sailed Alaska for the first time this summer and will expand further in the United States with a Hawaii debut later this year, alongside its first French Polynesia season.
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